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4 THROUGH December 31.2004 ACCOUNT NUMBER TAXPAYER MASSER On FIk LAST STATEMENT November 30.2004 Equities & Options The research ratings for Bear Steams (BSC) are shown for certain securities covered by the Firm's Equity Research Department, The first rating represents the stock's total return relati
vided by the Firm and/or the inclusion of Independent Research ratings in trade confirmations, periodic account statements or vfimv,bearsteams.com. Bear Stearns is not required to supervise the production of Independent Research and has no responsibility to comment on the content of such Research. End of St
29.070.063 Closing Balance 8.29,070,063.39 Equities 73.256,770 Same Ow tandem ca cash balsam scowl Imes ate not included in ihis salian: such Iranefera as well as details lot as ofer Iransachcea !is pesio0. Total $29,070,063 $73,256,770 *paw in Transaction Dotal. Cash Balance Summary QUI. NG O
cords Ste revers* safe for males" ipternalai 027 D5260110:08 001 Important Message In an ef fort to deliver statements to you more efficiently. Bear Steams has enhanced the distribution of statements to household accounts. Beginning in June-all statements with the same Address and Social Security
slOtAhr. 4/ menu,' m clewed km to tI0S0Lte Markel rat), el ,/v palloo 042801:17:08 001 V471 EFTA00196541 CLEARED THROUGH ITS OHnEO SUBSIDIARY BEAR STEARNS OFFICE SERViCiNG YOUR ACCOUNT Bear. Stearns & Co. Inc. 245 Park Avenue New York. New York 10167 4 vi Beer. SZeirns SOC,M*1 GOO. Ore Mevolech Can
Net Cash Activity -4,431.200.49 Closing Balance $-4,270.779.33 Same der tanners s cosh belacen accost Imes ate not included in we section: such Iranefera as nen as details lot as ore Iransoclare As penal. Portfolio Composition appeal in Transaction Dotal. SNORT CashICash Equivalent 4,270.779 Equi
ecant So coma YM for irrocetart irdonweco 027 COS.2601:10:08 001 Important Message In an el fort to deliver statements to you more efficiently. Bear Steams has enhanced the distribution of statements to household accounts. Beginning in June-all statements with the same Address and Social Security
84 Total $15,835.39 $30.646.93 Closing Balance $1,970,318.90 Same dee tannen et cosh beleteen amount Bees ate not rocketed in we ;cotton. such Iranefera as well as details Icy as otter Pans=Ices Ins penod. appeal la Transaction Dotal. Portfolio Composition SHORT LONG CashiCash Equivalent 1.970,3
Entities connected to both Bear Stearns and Iranefera

Financial Trust Company
ORGANIZATION
New York City
LOCATIONPERKO
ORGANIZATION
North
LOCATIONMoney Fund
ORGANIZATIONEOUITY
ORGANIZATIONMASSER
PERSONSZeirns
PERSONEquities & Options
ORGANIZATIONTHRCOGH
ORGANIZATIONOESCRPTION
ORGANIZATIONGRECO
PERSONthe National Association of Securities Dealer's
ORGANIZATIONWIIOUY
ORGANIZATIONTELEPECCE
ORGANIZATIONBar Bear
ORGANIZATIONClosingBalance
ORGANIZATIONEquvalent
ORGANIZATIONBSC'
ORGANIZATIONOre Metsolech
ORGANIZATION